The Emerging Trends and Practices of HRM

Now-a-day, business organizations are developing very rapidly based on the changing political strategies and market trends. Particularly after globalization, business organizations are facing highly competitive strength and demands due to economic, political, social and technological changes. The uncertainty in the environment and increase of competition have made business organizations to think along new ways of managing business. In order to make organizations more effective, work is restructured like the well-known concepts, QWL (Quality of Work Life), JIT (Just In Time), TQM (Total Quality Management), Team work and Cellular Products. These are introduced continuously based on the changing market trends with a view to fast delivering the goods and for better quality of products/services at convenient and competitive prices. Today, business organizations are restructuring and rethinking with various emerging trends and practices to look at current market trend and moving towards work intensification and flexibility which are ultimately affected by the employer and employee relationship. Temporary and contract jobs, and casual and part-time jobs are the common practice of new management styles. The new trends and practices will ultimately be useful to organizations for decreasing or increasing workforce in order to introduce changes. At the same time, the trend has changed the old concept of permanent employment up to retirement and long time employee and employer relationship. Even some of the advanced countries like USA, and Japan are unable to continue their popular permanent life-time employment due to new trends and practices. Many of the studies have also concluded that temporary employees are increased in many countries. Most of the organizations are providing training programmes for the employees in different levels for the purpose of increasing job knowledge to make them more effective, more productive and multi-skilled. Companies, like Port Trusts (Visakhapatanam unit) which had almost 10000 employees few years ago, recently have about 5000 employees only. Most of the business organizations are planning for right-sizing or down-sizing. In order to make more effective and productive based organizations on the trends and practices in the competitive market, now-a-days, business organizations are planning to practice outsourcing recruitment system, job responsibility sharing, employee referral system, flexible pay structure, flexible time management technique, contract and leasing employees, tele-commuting techniques, etc. All these new trends and practices are highly appreciated and result oriented. SUBMITTED BY: VANYA MEHROTRA MBA IB, SEM 2 SECTION B